The U.S. spot Bitcoin ETF market is emerging from its summer slumber. The main newsmaker of the week was the Bitwise Bitcoin ETF (BITB), which recorded a daily net capital inflow of $16.15 million. The asset manager immediately used the funds to purchase 250 BTC on the spot market.
As a result, the fund's total holdings increased to 36,868 BTC, its net assets reached $2.38 billion, and Bitwise's total assets under management exceeded $15 billion.
The company's management response offered a telling example of how the modern crypto business operates, caught between marketing and strict compliance requirements.
“Delighted to see investors buying more Bitcoin,” Bitwise Asset Management CEO Hunter Horsley said in a brief comment on the purchase.
However, the company chief's enthusiastic post was immediately followed by mandatory legal formalities. To avoid violating regulatory rules, Horsley attached a direct link to BITB's official prospectus and reminded investors of the risks upfront.
The reason is that U.S. spot crypto ETFs are not legally covered by the traditional Investment Company Act of 1940. The fund does not have the government protections typically associated with traditional securities, while the underlying asset remains highly volatile.
BlackRock and Fidelity lead the wider comeback
The capital inflow into BITB comes amid the recent closure of smaller competing products, including Hashdex's ETF. Investors are no longer buying everything indiscriminately and are instead moving their money into large, regulated funds, where executives led by Horsley welcome multimillion-dollar inflows while strictly following the letter of the law.
This momentum perfectly matched a broader market resurgence, which brought total daily net inflows across all U.S. spot ETFs to $189.30 million. BlackRock's IBIT led the session with $142.10 million in net inflows, while Fidelity's FBTC captured $41.60 million. Grayscale's GBTC and Bitcoin Mini Trust both posted flat, zero-flow days.
